OPINION
PHILIPPINE ASIAN NEWS TODAY June 1 - 15, 2017
DTI Sec. Ramon Lopez Independence Day 2017 message
Today, we celebrate the 119th
year since we first declared our
nation’s independence.
In remembrance of our heroes,
who sacrificed their lives for the
country, we mark the 12th of June
every year to treasure the gift they
have bequeathed for all Filipinos.
Though it has been 119 years
since we first won our independence
as a nation, there are struggles
that we continue to bear—one for
independence from poverty, given
that many of our fellow countrymen
are trapped at the bottom of the
economic pyramid.
The Department of Trade and
Industry (DTI) is at the forefront
of the attempt to bring shared
prosperity for all. Guiding our efforts
is President Rodrigo Duterte’s 10-
point Socio-Economic Agenda and
“Dutertenomics,” which aims to
widen the gains of the Philippines’
economic development, to address
inequality, and to uplift the quality
of life of all Filipinos.
Whether
by
attracting
investment interest from traditional
and non-traditional trading partners
or through government support
programs that help our micro,
small, and medium enterprises
(MSMEs) that serve as the backbone
of our economy, DTI’s initiatives
help create more jobs and income
opportunities, while also improving
the lives of our countrymen.
The country posted one of
the fastest growth rates in Asia in
2016 at 6.8 percent. The growth
trajectory is projected to carry on
at 6.4 percent this year and 6.6
percent in 2018, as projected by the
World Bank. Crucial to sustaining
such robust growth is our efforts
to improve the business climate in
the country through accelerated
infrastructure spending, prudent
economic
management
and
good governance. Our industry-
level reforms and implementing
programs also continue to
encourage foreign investments.
Increased investor confidence
is at a high point, as evidenced by
the number of exploratory visits
from other countries. Foreign direct
investments grew 13 percent to
US$689 million in the first month
of 2017 from $605 million in the
same period last year. Meanwhile,
exports grew by 21 percent from
US$4.61 billion in March 2016 to
US$5.58 billion in March 2017,
while imports grew 24 percent from
US$6.36 billion in March 2016 to
US$7.88 billion in March 2017.
The Board of Investments
(BOI) had approved investment
pledges worth P154-billion of
projects from January to April,
up 31 percent year on year. This
is equivalent to 46,018 jobs to be
generated compared to 16,366
generated last year or a growth of
181 percent.
Furthermore, the Philippines
DTI Secretary Ramon Lopez
is currently ranked 99th out of
190 economies as measured in
the 2016 Doing Business report, a
significant gain of 49 spots in the
Doing Business report since 2011,
which is the largest in ASEAN.
At the domestic front, public
service initiatives continue to
progress. Of the 488 Negosyo
Centers operating nationwide, 241
were established since President
Duterte assumed office and these
centers have assisted a total of
473,969 MSMEs by rendering
645,925 services.
These centers along with
WWW.PHILIPPINEASIANNEWSTODAY.COM
the other infrastructures of
entrepreneurship help existing and
aspiring Filipino MSMEs in their
unique entrepreneurial journeys.
We would also like to mention
that our microfinancing program,
the Pondo sa Pagbabago at Pag-
asenso (P3), which provides
microenterprises an alternative
source of financing, has now been
launched nationwide.
Lastly, with the Philippines
helming the ASEAN regional meet
this year, DTI has managed to
push for an inclusive, innovation-
led growth by putting our MSMEs
at the front and center of our
trade agenda with our regional
neighbors.
As the Philippines’ premier trade
agency, DTI remains committed
in its goal to promote the local
trade and industry to wider world
even as it pursues greater business
opportunities that would help our
Filipino countrymen share in the
benefits of country’s economic
growth.
The Philippines, as an
independent nation that is proud
to stand on its own, is ready to do
business with the world.
Mabuhay!●
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